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Million Vehicles Recalled Over Takata Air Bags

The federal government is specifying the models of 12 million vehicles recalled because they contain defective Takata air bags. The airbag inflators can explode metal fragments inside the auto and they’ve been linked to at least 11 deaths so far, and more than 100 injuries.

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At least 933,000 Fiat Chrysler cars sold in Canada, Mexico and overseas are also affected, and the US recall also affects vehicles from Toyota, Subaru, Mazda, Nissan, Mitsubishi, and even 2,800 Ferrari sports cars.

This is expected to result in the recall of an additional 7 million or so vehicles in Japan.

The actions come as Takata is reportedly in discussions with private equity firm KKR, which is said to be weighing a plan to overhaul the troubled Japanese supplier despite the enormous costs of the recall. However, it did say that the number of automakers included may increase from the current 17. Recalled cars are prioritized by age and the risk of exposure to high levels of humidity, which may lead to some vehicles not getting replacement inflators for a few years. The expanded recall could bring the total number of affected vehicles in Japan to 19.6 million – roughly the number of new vehicles sold domestically over four years.

Dealers had replaced 8.4 million airbags as of May 20, according to NHTSA.

Toyota Canada and Honda Canada both said the most recent recall doesn’t affect any vehicles that haven’t already been the subject of earlier Takata-related recalls.

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In November, Takata agreed to pay a $70 million fine for safety violations and NHTSA named a former federal prosecutor as an independent monitor to oversee the massive recalls.

Takata steering committee talking with KKR, several other funds: source